Breakout Into New Uptrend Imminent
Looking at Gladiator Metals Corp.'s 6-month chart, Technical Analyst Clive Maund explains why he believes it is an Immediate Strong Speculative Buy.
Gladiator Metals Corp. (GLAD:TSX) is primarily a copper stock that is looking most attractive here as it looks ready to break out into renewed advance following a corrective downtrend from the middle of May.
The latest 6-month chart shows a pattern from March that might be interpreted as a top area, but this is belied by the strongly positive volume pattern and Accumulation line, plus the fact that the metals sector appears to be beginning a major intermediate uptrend.
The converging downtrend from mid-May is a bullish Falling Wedge that has brought the price down to a zone of strong support which it has arrived at in an oversold state. With moving averages in strongly bullish alignment, this looks like an excellent point to buy ahead of a breakout into a new and sizeable intermediate uptrend.
Gladiator Metals is accordingly rated an Immediate Strong Speculative Buy.
Gladiator Metals' website.
Gladiator Metals Corp. closed at CA$0.50, $0.37 on July 14, 2023.
Originally published on clivemaund.com on July 17, 2023, at 9.25 am EDT.
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As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Gladiator Metals Corp. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
CliveMaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.